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Verizon (VZ -0.2%) is refinancing $5B worth of debt: the company has launched a tender offer for...

Verizon (VZ -0.2%) is refinancing $5B worth of debt: the company has launched a tender offer for $1.25B worth of 8.95% notes due 2039, and plans to retire another $3.75B worth of debt bearing coupon rates of 4.35%-8.75%. The purchases will be paid for through a new debt offering featuring an undisclosed yield. Verizon had over $52.8B in debt on its balance sheet as of Sep. 30. (Hurricane Sandy impact)
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